by Zach Carter, Media Consortium blogger

Last week, the U.S. Senate rejected a plan that would have broken up the nation’s six largest banks firms into firms that could fail without wreaking havoc on the economy. Even though the defeat reinforces Wall Street’s political dominance, there is still room for a handful of other useful reforms, like banning banks from gambling with taxpayer money and protecting consumers from banker abuses. After looting our houses, banks are now pushing for the ability to bet on movie box-office receipts, and will keep trying to financialize anything they can unless Congress acts.

by Zach Carter, Media Consortium blogger

Last week, the Securities and Exchange Commission filed fraud charges against Goldman Sachs and underscored what most Americans have believed for some time: Wall Street has rigged the economy in its own favor, and will stop at nothing—not even outright theft—to boost its profits. What’s worse, Goldman’s scam could have been completely prevented by better regulations and law enforcement.

Coal consumption has costs — this week’s explosion at a West Virginia mine, which killed 25, made that clear. Those costs aren’t limited to human lives, either. Massey Energy Co., the owner of the West Virginia mine, has racked up not just safety violations but also consistently has disregarded the environmental effects of its work.

By Lindsay Beyerstein, Media Consortium blogger

Massey Energy’s Disregard for Safety

A massive explosion ripped through the Big Branch coal mine in West Virginia on Monday, killing 25 miners and leaving 6 others missing and presumed dead. The mine had an egregious record of health and safety violations.

Speaker Nancy Pelosi (D-CA) has laid out a strategy to pass health care reform in the next couple of days by allowing the House to vote on the details of the reconciliation package instead of the Senate bill itself. As usual, progressives are fretting that winning will make them look bad. On the other hand, conservatives are baying for blood and calling for revolution.